Australia-based miner Sundance Resources has announced that Hanlong Mining, a subsidiary of Sichuang Province-based Chinese industrial conglomerate Sichuan Hanlong (Group) Co., has secured additional funding worth $438 million. Together with the funding secured earlier, it is in excess of the amount required for the takeover.
The Sundance board has found that the funding is acceptable for the purposes of the acquisition agreement.
As SteelOrbis previously reported, Hanlong secured a funding of $1.02 billion in October.